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Leading Crypto OTC Desk Legend Trading Launches Legend Pay, Enabling Seamless Fiat On/off-Ramp for Crypto Platforms 

Posted on by Subh Rath

Legend Trading, a leading cryptocurrency trading firm with over 800 institutional clients, has launched Legend Pay, a fiat-to-crypto payment gateway that bridges the gap between traditional banking systems and the rapidly growing cryptocurrency market. 

Legend Pay provides a secure and seamless way for users to purchase cryptocurrencies using multiple local currencies, including USD, GBP, EUR, CHF, AUD, CAD, JPY, and more. It supports a vast array of major local payment methods, such as ACH, Swift, SEPA, FPS, Visa, and Mastercard, and collaborates with local banking partners and payment processors to broaden its payment options, making cryptocurrency more accessible than ever.

Numerous industry-leading crypto platforms, including KuCoin, Bybit, Gate.io, Cobo, Phemex, Bitrue, Ellipal, Bitmart, BingX, and more have already integrated Legend Pay. Legend Pay also supports decentralized applications and wallets, including Token Pocket and EverPay. With more integrations underway, Legend Pay is poised to help millions of retail investors access cryptocurrencies with ease, and its user base is growing rapidly. 

Legend Pay features a customizable widget that can be easily embedded into partners’ platforms through a simple SDK integration. In addition, it delivers a comprehensive suite of APIs for advanced integrations. For instance, its Direct Deposit (DD) feature enables users to instantly buy crypto with their fiat balances, and the KYC Connect(KC) feature simplifies the onboarding process, eliminating redundant procedures.

Legend Pay’s pricing for crypto buy/sell is optimal as it utilizes Legend Trading’s institutional-grade trading infrastructure including the liquidity pool that aggregates global cryptocurrency liquidity, and the proprietary smart order routing system to find the best price in market.

Hao Chen, CEO of Legend Trading, shared his vision for the platform, stating, “An easy-to-use fiat-crypto payment gateway is fundamentally important to the future of the blockchain and crypto industry. Our goal is to bring a billion users into the world of crypto, the future of finance, and to drive real adoption of cryptocurrencies.” By providing a user-friendly solution that bridges the gap between traditional banking and the cryptocurrency landscape, Legend Pay aims to attract a diverse range of users, from retail investors to institutional clients.

As a regulated financial institution, Legend Trading strives to bridge the gap between crypto and traditional financial systems through its innovative services. Its continued development and expansion will facilitate more seamless integration with industry-leading crypto exchanges and wallets, promoting the accessibility and adoption of cryptocurrencies worldwide. Legend Trading is poised to play a crucial role in shaping the future of finance and fostering a new era of cryptocurrency growth and adoption.

About Legend Trading 

Legend Trading is a leading U.S. regulated cryptocurrency trading firm trusted by over 800 institutional clients. It offers high quality trading services, with a focus on asset custody security, regulatory compliance, robust IT infrastructure, and settlement efficiency. Legend Pay, Legend Trading’s payment service specializes in providing fiat to crypto payment gateways and financial solutions to crypto platforms. As a regulated financial institution, Legend Trading strives to bridge the gap between crypto and traditional financial systems through its innovative services. 

Legend Trading: https://legendtrading.com/

Legend Pay: https://legendtrading.com/legend-pay

Showcases: https://legendtrading.com/cases

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Binance to Expand its Services in Inflation-Hit Argentina

Posted on by Subh Rath

The cryptocurrency exchange Binance, which has been sued by U.S. officials, announced on Tuesday that it is expanding its services in Argentina, allowing customers to buy and sell digital currencies using local pesos.

The move enables Argentines to transfer pesos to a Binance account through a local partner, which can then be used to acquire cryptocurrencies. Binance has previously solely functioned in Argentina as a matching tool for crypto buyers and sellers.

The U.S. Commodities Futures Trading Commission (CFTC) sued the company and its CEO Changpeng Zhao late last month for operating an allegedly “illegal” exchange and a “sham” compliance program.

Zhao, a billionaire born in China who relocated to Canada when he was 12 years old, described the CFTC’s lawsuit as “unexpected and upsetting.”

As regulators’ monitoring of Binance has increased, the exchange has lost banking partners required for so-called on-ramp and off-ramp transfers to fiat currencies. Paysafe, which previously processed sterling payments, withdrew in March.

Crypto Exchange in Argentina: 

In a written statement shared on Tuesday, the Southern Cone-based Director of Binance, Maximiliano Hinz told that: 

“This launch has to do with the public demand that exists here.” 

He further mentioned that Argentina is a key market for Binance exchange to expand. 

Yet, the new service enables Binance clients in the inflation-plagued nation to convert their local currency directly into cryptocurrencies via a local partner. Before this, Binance solely operated in Argentina as a platform that matched buyers and sellers.

Currently, with Binance’s formal expansion as a cryptocurrency exchange offering a variety of services in a country with an inflation rate of more than 100%, this choice is incredibly tempting to locals and investors. 

The public is looking forward to this development in Argentina, despite the risk and volatility associated with Binance’s expansion following regulatory scrutiny in all major countries and states, including the United States.

Why is this so? Despite being one of the South American countries with stringent capital controls limiting currency exchange and one of the top 15 countries to adopt cryptocurrency last year, Argentina has not yet regulated cryptocurrency exchanges. Binance’s presence will make the transition to cryptocurrency for trades and other sale/purchase/trade needs simpler and more accessible for locals and the general populace.

But every crypto decision the world has encountered over the years has been accompanied by some type of danger. Similarly, the central bank is sceptical regarding this expansion. Hence, it continually warns authorities about the risks of cryptocurrencies, and the markets regulator CNV supports a measure to create a registration of companies that offer virtual assets.Also Read: Australia Preparing to Establish a Crypto Regulatory Framework in 2023

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Bitget Becomes the First Centralized Exchange to Offer Financial Transparency Through Space and Time

Posted on by Subh Rath

Bitget advances centralized exchange market leadership by accelerating verifiable data and computation.

Victoria, Seychelles, March 27, 2023 – Bitget, the largest crypto copy trading platform, has announced a strategic partnership with Space and Time (SxT), a leader in decentralized data warehousing. The partnership will enable Bitget to offer users unparalleled transparency of exchange operations with a verifiably tamperproof audit trail of data and computation. 

Bitget is the first centralized exchange to leverage a decentralized data warehouse. The trustless Space and Time platform will provide Bitget users with verifiable evidence that the exchange holds the assets it claims to own on behalf of its clients. Bitget users will also have full transparency about the exchange’s activity, liquidity, assets, and liabilities with the assurance that the data and computation powering the exchange are accurate and haven’t been tampered with.

Bitget has launched its Proof of Reserves Page to demonstrate to users that it is a full-reserve exchange. Bitget’s Proof of Reserves (“PoR”), which uses the cryptographic-audited Merkle tree method, will also validate that users’ assets stored on the platform are safeguarded. To support further transparency, the exchange will work with Space and Time, which allows Bitget to provide proof of accounting and assure its users that all exchange operations are both valid and verifiable. The total reserve ratio is 231%, according to the data as of Mar 6th 2023, which means Bitget holds more than 100% of the users’ total assets (BTC, ETH, USDT, USDC). 

“Bitget strives to be the all-in-one global trading platform, and our partnership with Space and Time highlights our commitment to that,” said Gracy Chen, Managing Director of Bitget. “More than ever, users want to see transparency from exchanges. Bitget is the first to work toward transparency of proof of accounting and operations through Space and Time. We aim to inspire people to embrace crypto with more protection, transparency and security, which serve as pillars for building a robust platform.”  

Space and Time is the first decentralized data warehouse that joins tamperproof on-chain and off-chain data. Space and Time has developed a novel cryptography called Proof of SQL that cryptographically proves that query computations were done accurately and that both the query and the data are tamperproof. 

“Space and Time is building the foundation for a verified and transparent financial economy,” said Nate Holiday, CEO and Co-Founder of Space and Time. “We’re thrilled to work with Bitget to provide market-leading proofs for accounting and verifiability of operations. This partnership marks a new era of transparency for centralized businesses.”  

Bitget will leverage the Space and Time data warehouse to run verifiable computations against verifiable on-chain and off-chain data. The transparency enabled by Space and Time will help Bitget strengthen the trust it has built with its growing user base as it continues to expand its product offerings to become a one-stop investment solution. 

About Bitget

Bitget, established in 2018, is the world’s leading cryptocurrency exchange with futures trading and copy trading services as its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.

For more information, visit: Website  |  Twitter  |  Telegram  |  LinkedIn  | Discord

For media inquiries, contact: Sylvia Huang, media@bitget.com 

About Space and Time

Space and Time is the first Web3-native decentralized data warehouse that joins tamperproof on-chain and off-chain data to deliver enterprise use cases to smart contracts. Space and Time has developed a novel cryptography called Proof of SQL™ that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. Space and Time is built from the ground up as a multichain data platform for Web3 developers in financial services, gaming, DeFi, or any project requiring next-gen analytics.

For more information, visit: Website | Twitter | Discord | Telegram | LinkedIn | YouTube

For media inquiries, please contact: Spencer Reeves, marketing@spaceandtime.io

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Crypto and AI: Make the Most of Crypto & Telegram with the AiravatBot Limited Beta

Posted on by Subh Rath

After successfully raising $165K in its pre-seed round for developing a Telegram-based AI crypto chatbot, AiravatBot has been launched in limited beta.

—–

For all AI enthusiasts looking to automate their tasks, who would have thought that the time to automate and efficiently manage your Crypto would come so soon? 

As AI continues to improve and advance the efficiency, outcomes, and turnaround time for many professional industries and tasks – the crypto world is not being left behind in adopting this trend. 

Recently, Airavat, which was the talk of the web3 AI community as the first-of-its-kind AI-powered crypto chatbot for Telegram, started working on integrating ChatGPT into AiravatBot. 

Furthermore, the platform also announced that it had created a short walkthrough video about the chatbot’s features. 

This video on Airavat’s YouTube channel explains to new Telegram users about AiravatBot’s various features. These features currently include depositing, withdrawing, swapping, and staking.

Currently, the platform is running an incentivized early adopter/beta tester program to make AiravatBot accessible for everyone and improve it further based on user feedback.

AiravatBot Features

AiravatBot is already sourcing liquidity from a few prominent CEXes and is actively working on adding more sources from both the CeFi and DeFi ecosystems with the launch of its limited beta version. However, the current limited beta version already has a lot to bring to the table for the crypto-based telegram users, including features like: 

  • Support for users depositing and withdrawing needs of Tezos, MATIC, Ethereum, USDT, and USDC.
  • Built-in staking for Tezos, Polygon (MATIC), and Ethereum.
  • Swapping options of over 600 different USDT-based currency pairs in trade-only mode (no deposit/withdrawal).
  • Staking support from Airavat’s own validators and prominent staking infrastructure providers.

Airavat Overview

Airavat is a powerful chatbot-based interface for both simple and complex crypto operations. Airavat’s partnerships with key CEXs, DEXs, and Web3 platforms (AMMs, Borrow/Lend marketplaces, and NFT marketplaces) allow complicated multi-step actions to be done swiftly and effortlessly while also delivering the best price discovery and effectively integrating the CeFi and DeFi ecosystems.

Test it Today!

If you plan to test and use AiravatBot, the good news is that it’s just 2 steps away! 

Simply: 

*or*

  • Provide your email address on the Telegram chatbot in the format  ‘/request_invite <email>’ at airavatbot.io.

Learn more about the project’s further plans through its roadmap. 

Contact: Twitter | Telegram | Facebook | Mail | Medium | LinkedIn

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Self-custody needs better trading options: DeFi delivers

Posted on by Subh Rath

Centralized crypto exchanges took numerous hits from hack attacks and regulatory scrutiny for years. Since the infamous 2011 breach at Mt. Gox, which was handling 70% of Bitcoin transactions at the time, an alarming number of crypto exchanges experienced breaches and exploits, resulting in billions of dollars of loss. Without a proper mechanic to recover customer funds if something goes wrong, crypto exchanges were far from the ideal custodians. 

Still, it took one majestic collapse of a top crypto exchange such as FTX for people to understand that when a user sends their crypto assets to a centralized exchange, they no longer own their funds. The $8 billion in missing customer funds showed that crypto exchanges have the right to trade with those customers’ crypto or even withdraw them. Once again, the famous phrase ”not your keys, not your coins” started echoing across the crypto universe.

Following the fallout of the FTX, traders and investors have withdrawn a record amount of crypto from centralized exchanges to self-custody wallets where they have complete control over their cryptocurrencies. With the meteoric rise of self-custody, crypto users started to fit into a healthier profile in terms of overall financial well-being. 

While self-custody provides proper control and protection, users still need key functionality for trading and investing. Since decentralized finance is no longer a barebone space, DeFi developers were quick to answer the needs of crypto users who migrated from centralized entities.   

For crypto traders who want to execute advanced trading functions without giving control of their crypto assets to third parties, decentralized alternatives were created. Built on the Polygon network, DPEX is one such solution for users who want to trade crypto assets like Bitcoin, Ethereum and Matic with up to 50x leverage via self-custody wallets. As a decentralized perpetual exchange, DPEX offers low transaction fees while letting users trade perpetual contracts with no expiry dates.

Self-custody meets utility

The platform’s intuitive design provides a simple screen that can be enjoyed by expert traders and DeFi newcomers alike. Users can easily take advantage of the practical tools on DPEX, earning from swaps, market making, leverage trading and spreads. The platform features multi-asset liquidity pools backed by the Polygon network’s $1 billion TVL. 

Self-custody wallets like MetaMask or WalletConnect can be used to access the app, where they can open long or short positions, as well as make swaps, all from the same screen. The trustless nature of the platform allows for transactions without any form of KYC verification. Since there’s no third party involved in the management of funds, DPEX users are protected from any malicious activities.

More info about trading with leverage on DPEX can be found here.

The platform is governed by a decentralized autonomous organization named the DPEX Foundation. Giving users total control over their assets and allowing them to engage in leverage trading and on-chain voting are two main objectives of the DPEX DAO. By utilizing the DPEX token, which serves as the platform’s utility and governance token, users can participate in the ecosystem and have a say in the platform’s development. The LP token, named DPLP, is designed for liquidity providers. During the launch, DPLP will provide four primary assets, including MATIC, ETH, WBTC, and USDC, with the community able to approve the addition of more.

The team behind DPEX has recently announced an airdrop of 1 million eDPEX tokens. Crypto owners with GMX, dYdX and Synthetix holdings recorded on the Ethereum blockchain are eligible to get eDPEX tokens airdropped to their Polygon wallets. The eDPEX tokens would be converted to DPEX at a 1:1 ratio following the platform’s official launch.

The sudden interest in self-custody provides the perfect service for the DeFi ecosystem to thrive and access mainstream adoption. Crypto users are more aware of what they need and what to expect from a new platform, while developers are working hard to exceed users’ expectations. With projects like DPEX, decentralized trading has the potential to become the gateway to crypto for the vast majority who simply want to trade in a safer environment while keeping total control over their funds.

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